Basis Step-up (Step-down)
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Basis Step-up (Step-down)

 
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Ron Rosenfeld
Guest
Posted: Wed Nov 09, 2005 9:00 am    Post subject: Basis Step-up (Step-down) Reply with quote
I have an interest in a "tax shelter" that at present has a
large negative basis. Is there any way (other than dying)
to gift or donate this so as to remove this asset without my
becoming liable for the taxes that might ordinarily become
due?

Thanks.

--ron

<< ======================================================= >>
<< The foregoing is intended for educational purposes only >>
<< and does NOT constitute legal OR professional advice. >>
<< >>
<< The Charter and the Guidelines for submitting >>
<< messages to this newsgroup are at www.asktax.org. >>
<< Copyright (2005) - All rights reserved. >>
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Ted
Guest
Posted: Wed Nov 09, 2005 11:57 pm    Post subject: Re: Basis Step-up (Step-down) Reply with quote
"Ron Rosenfeld" <ronrosenfeld@nospam.org> wrote:

Quote:
I have an interest in a "tax shelter" that at present has a
large negative basis. Is there any way (other than dying)
to gift or donate this so as to remove this asset without my
becoming liable for the taxes that might ordinarily become
due?

Gee, wouldn't it be great if you could!

<< ======================================================= >>
<< The foregoing is intended for educational purposes only >>
<< and does NOT constitute legal OR professional advice. >>
<< >>
<< The Charter and the Guidelines for submitting >>
<< messages to this newsgroup are at www.asktax.org. >>
<< Copyright (2005) - All rights reserved. >>
<< ======================================================= >>
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